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Marcos, Cabinet officials ready to publish net worth

October 14, 2025

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Business World Philippines

THE presidential palace on Monday said members of the Executive branch including President Ferdinand R. Marcos, Jr., are open to publicizing their statements of assets, liabilities and net worth (SALN), following the new Ombudsman’s plan to lift restrictions as calls for government transparency intensify.

“Whatever is proper, in accordance with the law and beneficial in the fight against corruption — everyone in the Executive branch will comply,” Palace Press Officer Clarissa A. Castro told a news briefing in Filipino. “Everyone in the Executive branch is ready.”

The Philippines is probing a multi-billion-peso public works scam after Mr. Marcos’ pronouncements during his fourth state of the nation address, where he accused lawmakers of receiving kickbacks in various infrastructure projects.

This opened a can of worms as various government branches launched their own inquiries, further uncovering irregularities in infrastructure spending and prompting renewed scrutiny of accountability and transparency in public service.

The President also appointed former Justice Secretary Jesus Crispin C. Remulla as ombudsman and established an independent body to probe public work scams.

المزيد من القصص من Business World Philippines

Business World Philippines

Bill to scrap travel tax progresses

A HOUSE of Representatives committee on Monday approved a proposal to abolish the Philippines' travel tax that critics say is burdensome and adds costs for Filipino overseas travelers.

time to read

3 mins

February 24, 2026

Business World Philippines

BPOs alarmed by aggressive LGU taxation despite exemptions under CREATE MORE

THE IT and Business Process Association of the Philippines (IBPAP) said local government units (LGUs) are insisting on collecting local taxes even though the industry enjoys exemptions under the CREATE MORE Act.

time to read

1 mins

February 24, 2026

Business World Philippines

Business World Philippines

BYD’s DENZA bets on rising EV demand in Philippines

BYD CO. LTD’S brand DENZA is entering the Philippine market this week, betting that accelerating electric vehicle (EV) adoption in Southeast Asia will extend to one of the region’s smaller but growing car markets.

time to read

1 mins

February 24, 2026

Business World Philippines

PHL foreign debt service bill drops at end-Nov.

THE PHILIPPINES’ external debt service burden fell for a sixth straight month as it continued to record lower principal and interest payments at end-November, preliminary central bank data showed.

time to read

2 mins

February 24, 2026

Business World Philippines

One Battle After Another wins big at Britain’s BAFTA film awards

LONDON — Dark comedy One Battle After Another was the big winner at Britain’s top movie awards on Sunday, picking up six BAFTAs including best film and best director for Paul Thomas Anderson.

time to read

1 mins

February 24, 2026

Business World Philippines

Business World Philippines

Dissecting Philippine developers’ growing industrial footprint

Amid global economic uncertainties, the Philippines continues to attract major industrial locators.

time to read

2 mins

February 24, 2026

Business World Philippines

Deutsche Bank sees last rate cut in June

THE BANGKO SENTRAL ng Pilipinas (BSP) could stand pat at its next meeting before delivering its final rate cut for this easing cycle in June as economic growth is likely to stay sluggish this quarter, Deutsche Bank Research said.

time to read

2 mins

February 24, 2026

Business World Philippines

BIR, industry back unified vape juice tax to curb misdeclaration

AUTHORITIES and industry stakeholders on Monday backed a proposal to unify the excise tax structure for electronic vape juices, as lawmakers seek to plug regulatory gaps and boost government revenues amid tapering collections under the current system.

time to read

2 mins

February 24, 2026

Business World Philippines

Business World Philippines

SEC Chair Lim says governance to drive capital market growth

GOOD GOVERNANCE is key to capital market growth and retaining investor confidence, the Securities and Exchange Commission (SEC) said on Monday, as the Philippines faces local and external headwinds this year.

time to read

2 mins

February 24, 2026

Business World Philippines

Business World Philippines

Pre-need sector books higher premium income

PRE-NEED COMPANIES’ combined premium income rose by 5.73% year on year to P23.94 billion in 2025 despite a decrease in the number of licensed firms due to tighter regulatory oversight, the Insurance Commission (IC) said ‘on Monday.

time to read

1 mins

February 24, 2026

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